TBTProShares UltraShort 20+ Year Treasury
Seeks daily investment results that correspond to -2x the daily performance of the ICE U.S. Treasury 20+ Year Bond Index.
By ProShares · Launched 2008
0.93%
#4,592 of 5,573 · expensive
$333M
#1,880 of 5,573 · large
-3.9%
18 years
#599 of 5,573 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundAsset class
Fixed incomeRegion
North americaStrategy
Inverse
Index tracked
ICE US Treasury 20+ Year Bond Index
What it actually holds
By weightConcentration
Top 10 holdings = 91.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Bond profile
Credit ratings
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks daily investment results that correspond to -2x the daily performance of the ICE U.S. Treasury 20+ Year Bond Index.
- Strategy
- Invests primarily in financial instruments to achieve -2x daily exposure to the ICE U.S. Treasury 20+ Year Bond Index. The Fund aims to provide inverse performance on a daily basis.
- Inception date
- April 29, 2008
- Fund family
- ProShares
Similar funds
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Inverse ETF — daily tool only
Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.
Source: Cheng & Madhavan (2009)
Why we flagged this: strategy=inverse + inverse_name_or_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-20